In today’s era, amidst rising inflation, everyone dreams of securing their future. The thought of creating a big fund from small savings comes to everyone’s mind, but courage is gained only after finding the right and safe investment option. Don’t worry! The post office has such a wonderful scheme that can make your dreams come true.
Post Office Recurring Deposit (RD) scheme is becoming very popular among small investors these days. The specialty of this scheme is that if you deposit only ₹ 3500 every month, then you can become a millionaire in 60 months i.e. 5 years. Come, let us know the complete details of this scheme and its benefits.
You can start investing in Post Office RD scheme with just Rs 100. Most importantly, there is no upper limit, meaning you can invest as much as you want. This is what makes it special for both small and big investors. If you deposit ₹ 3500 every month, then this investment will have to be made for 5 years i.e. 60 months.
At present, this scheme is offering an annual interest rate of 6.7%, which is compounded on a quarterly basis. This means that every three months your interest will be added to your deposit. With this, your savings will gradually increase and after 5 years you will get excellent returns.
The Post Office RD scheme is backed by the Government of India, which means your money is completely safe and you get guaranteed returns. Let us calculate what your total fund will be in 5 years:
This scheme is not only safe, but it also gives a great opportunity to convert your small investments into big funds.
Opening an account in the RD scheme of the post office is child’s play. You just have to go to your nearest post office. Take Aadhar card and important documents with you. There your account will be opened instantly and you can deposit your first instalment. If needed, you can also withdraw money from this scheme with certain conditions.
The special thing is that after completion of the period of 5 years, you can extend this scheme for another 5 years. This scheme is for everyone who wants to grow their money without risk.
